Elon Musk to donate $45 million a month to Trump’s Super PAC: report

Tesla CEO Elon Musk has announced plans to support America PAC, a political action committee supporting Donald Trump, the Republican presidential candidate for the upcoming US election.

According to a WSJ report, citing people familiar with the matter, Musk intends to devote $45 million a month to this committee starting in July.

Musk will support Trump with $45 million per month

Last week, Musk gave a “significant” but undisclosed amount to the group supporting Trump’s campaign. The latest news is a move to increase their initial investment in supporting Trump. Recall that the tech billionaire had previously stated in a March 2024 tweet that he would not give “money to either candidate for the presidency of the United States.”

A few days ago, Trump survived an assassination attempt after a shooting in Pennsylvania during a campaign rally. The 78-year-old presidential candidate was ejected from the stage while bleeding from his ear.

Since the shooting incident came after Musk’s initial investment in Trump’s campaign, several people have urged the tech billionaire to be careful, as opposing entities may also come after him. In response, X tweeted:

“Maybe it’s time to build that flying metal armor.”

More support for Trump

Since the beginning of the presidential campaign between Joe Biden and Donald Trump, the latter has supported the crypto industry. Unlike the Biden regime, which largely took a hostile view of the digital asset ecosystem, Trump promises to endorse crypto in the country if elected president in November.

Trump’s embrace of the crypto industry has earned him support from prominent figures in the space. For example, Kraken co-founder Jesse Powell donated $1 million in ETH to the Trump campaign group late last month. An earlier report revealed that the Winklevoss twins, co-founders of Gemini, each committed $1 million in BTC to the Republican candidate.

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